Industrial production falls 1.6% from previous year
India's Industrial production for the month of May fell by 1.6% from the previous year, the latest sign that the country's economy is continuing to struggle.business Updated: Jul 13, 2013 03:53 IST
India's Industrial production for the month of May fell by 1.6% from the previous year, the latest sign that the country's economy is continuing to struggle.
Weak mining and manufacturing performance dragged down the industrial output for May.
The April numbers from the Central Statistics Office showed a growth of 2.3%.
Mining production was down 5.7% and manufacturing fell by 2% over the previous year.
The electricity sector's output grew by 6.2%.
The country's once-bright economic outlook has been marred in recent months by stalling growth rates, high inflation and deficits in both - the current accounts and the government budget.
Gross domestic product growth for the quarter ending in March was just 4.8%, down from the 8-9% level of just a few years ago.